Australian first home buyers

Australian first home buyers are seeing their borrowing capacity shrink sharply as expectations of another Reserve Bank interest rate rise build. Reports across major outlets say a hike could wipe tens of thousands of dollars off what buyers can borrow — estimates range from $47,000 to $58,000 in reduced buying power, with mortgages facing roughly $5,000 a year in extra repayments. Commentators note the pressure reverses recent house price relief, though some see a silver lining in falling prices for locked-out buyers.